365,537 Shares in Plug Power, Inc. $PLUG Bought by Nuveen LLC

Nuveen LLC bought a new position in shares of Plug Power, Inc. (NASDAQ:PLUG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 365,537 shares of the electronics maker’s stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors have also modified their holdings of PLUG. Miracle Mile Advisors LLC acquired a new position in shares of Plug Power in the first quarter valued at about $26,000. Ground Swell Capital LLC bought a new position in shares of Plug Power in the fourth quarter worth about $27,000. Baader Bank Aktiengesellschaft bought a new stake in Plug Power during the 1st quarter worth approximately $28,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Plug Power during the 1st quarter worth approximately $34,000. Finally, JNBA Financial Advisors bought a new stake in Plug Power during the 1st quarter worth approximately $37,000. Institutional investors own 43.48% of the company’s stock.

Insider Buying and Selling at Plug Power

In related news, insider Paul B. Middleton bought 650,000 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were purchased at an average price of $1.03 per share, with a total value of $669,500.00. Following the purchase, the insider owned 2,558,064 shares of the company’s stock, valued at approximately $2,634,805.92. This trade represents a 34.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PLUG. Evercore ISI upgraded shares of Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Piper Sandler decreased their price target on shares of Plug Power from $1.10 to $0.80 and set an “underweight” rating for the company in a research note on Wednesday, May 14th. Jefferies Financial Group increased their target price on shares of Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a report on Wednesday, July 23rd. BMO Capital Markets reduced their price target on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research report on Tuesday, August 12th. Finally, Susquehanna increased their price target on shares of Plug Power from $1.00 to $1.80 and gave the company a “neutral” rating in a research report on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Plug Power currently has an average rating of “Reduce” and an average price target of $1.88.

Plug Power Stock Down 3.4%

Shares of Plug Power stock opened at $1.44 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. Plug Power, Inc. has a 52-week low of $0.69 and a 52-week high of $3.32. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -0.62 and a beta of 2.09. The company’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.32.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The firm had revenue of $173.97 million during the quarter, compared to the consensus estimate of $157.97 million. Equities research analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.